GBP is weak vs. the USD and underperforming within the G10 currencies in Wednesday’s NA session.
"Brexit negotiations remain dominant as market participants consider the dwindling prospects of a deal ahead of next week’s summit.
Challenges have emerged from both the DUP and members of PM May’s Cabinet, with ongoing concerns surrounding the Irish border and post-Brexit regulatory arrangements.
Risk reversals have shifted dramatically, pricing in a greater premium for protection against GBP weakness across a range of time horizons."
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